Scheer Rowlett & Associates Investment Management Ltd. Increases Stake in Newmont Co. (NYSE:NEM)

Scheer Rowlett & Associates Investment Management Ltd. boosted its holdings in shares of Newmont Co. (NYSE:NEM) by 2.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 273,653 shares of the basic materials company’s stock after acquiring an additional 5,573 shares during the period. Newmont accounts for approximately 0.7% of Scheer Rowlett & Associates Investment Management Ltd.’s investment portfolio, making the stock its 28th biggest position. Scheer Rowlett & Associates Investment Management Ltd.’s holdings in Newmont were worth $10,176,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of NEM. Zurich Insurance Group Ltd FI acquired a new stake in shares of Newmont in the 3rd quarter worth $98,011,000. Nordea Investment Management AB lifted its holdings in Newmont by 173.0% during the 4th quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock worth $92,832,000 after buying an additional 1,578,545 shares in the last quarter. FMR LLC grew its stake in Newmont by 21.1% during the 3rd quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock worth $376,953,000 after purchasing an additional 1,226,697 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Newmont during the fourth quarter worth approximately $35,117,000. Finally, Assenagon Asset Management S.A. lifted its stake in Newmont by 57.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,379,901 shares of the basic materials company’s stock worth $88,580,000 after purchasing an additional 865,213 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Price Performance

Shares of Newmont stock opened at $43.88 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The firm has a market cap of $49.44 billion, a P/E ratio of 14.98, a price-to-earnings-growth ratio of 0.41 and a beta of 0.52. Newmont Co. has a twelve month low of $33.29 and a twelve month high of $58.72. The firm’s 50-day simple moving average is $42.53 and its 200-day simple moving average is $46.07.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.29. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The business had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.32 billion. As a group, research analysts expect that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.28%. Newmont’s payout ratio is 34.13%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on NEM shares. TD Securities dropped their price objective on shares of Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, February 26th. CLSA initiated coverage on Newmont in a research report on Friday, November 29th. They issued an “underperform” rating for the company. Raymond James reduced their target price on Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research note on Monday, November 25th. StockNews.com upgraded shares of Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Finally, Scotiabank reduced their target price on Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $53.16.

Insiders Place Their Bets

In related news, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $83,080.00. Following the completion of the sale, the director now directly owns 52,070 shares in the company, valued at approximately $2,082,800. This trade represents a 3.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Natascha Viljoen sold 9,000 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $360,000.00. Following the completion of the sale, the chief operating officer now owns 145,967 shares in the company, valued at $5,838,680. This trade represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,231 shares of company stock worth $1,388,758. Company insiders own 0.06% of the company’s stock.

Newmont Company Profile

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.